Retailers, Defensives Lead European Shares Higher

European shares were set for their fifth straight week of gains on Friday, led by defensive and retail stocks, but gains were limited as investors remained cautious about a wider economic slowdown and progress in U.S.-China trade talks.

A 1.08% increase in the retail sector helped lift the pan-European STOXX 600 index by 0.2%. Investors also bought into the so-called defensive sectors such as healthcare, utilities, real-estate and food and beverage.

Global equity markets were spooked at the start of the week by attacks on Saudi Arabia’s oil facilities that sent oil prices soaring and heightened geopolitical concerns in the Middle East.

But monetary loosening by central banks around the world calmed investor nerves later in the week.

Source : Reuters

RELATED NEWS

Hong Kong stocks ended the week on a strong note Friday, marking a fifth straight advance as early profit-taking gave way to optimism over the worldwide easing of lockdown measures and hopes for the g...

Wall Street surged on Friday after a strikingly upbeat May jobs report unexpectedly provided the clearest evidence yet that the U.S. economy is headed for a quicker-than-anticipated recovery.
The Nas...

European stocks racked up their best week in two months on Friday, with investors scooping up battered shares of banks, automakers and travel companies amid growing signs that the pandemic-hit global ...

Stocks rallied on Friday after a historic and surprising gain in U.S. jobs raised hope the economy is starting to recover from the coronavirus pandemic.
The Dow Jones Industrial Average jumped 1,030 ...

U.S. stocks jumped at the open on Friday after a closely watched report showed a surprise drop in the U.S. unemployment rate, lending weight to hopes of a faster economic rebound from a coronavirus-dr...